Free Trade in the real World

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Presentation transcript:

Free Trade in the real World Controversy over Globalization

Road to Globalization Collapse of Communism (1990) & Advances in Technology World movement towards Capitalism National Government’s lose power Free Trade requires a set of “rules” WTO becomes Global Referee

World Trade Organization (WTO) Created 1995 (replaced GATT) 146 Members - incl. ~ 100 Developing Countries WTO Reading Summary: Administering WTO trade agreements Forum for trade negotiations Handling trade disputes Monitoring national trade policies Technical assistance & training for Developing Countries

WTO Decision Making “The WTO shall continue the practice of decision-making by consensus… ….where a decision cannot be arrived at by consensus, the matter at issue shall be decided by voting…each Member of the WTO shall have one vote.” In theory, the WTO is a “democratic” institution. Developing countries charge the power remains in the hand of larger countries…

Protests against the WTO 1999 Seattle protest against the WTO

Who is watching the Environment? Negative Externalities?

Thomas Friedman on Globalization

Commanding Heights Video Start 1:15 in

Next Day

How Globalization affects people differently Vicky Al Judy Education Job